Cardano

David

Bitcoin

The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/cardano-price-analysis-guarding-the-0-25-gates-will-buyers-avoid-ada-price-crashing-under/">Cardano Price Analysis: Guarding The $0.25 Gates, Will Buyers Avoid ADA Price Crashing Under?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Losing the recent challenge to the resistance trendline, the <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/" target="_blank" rel="noreferrer noopener">ADA price</a> drops back to the $0.25 level for the third time in the past two weeks. While the 50 EMA breakout did promise a prolonged uptrend, the extensive selling at the overhead trendline was a battle between David and Goliath.&nbsp; 
Nevertheless, being a belt of bounce-backs, the buyers line up at the $0.25 zone, leading to a lower price rejection with a minor recovery.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh6.googleusercontent.com/zqrHaNR2729-43YQrW11NgOnTviYx4QmbJ9Nz_ubRguRGp2U44emI78-n4LnDVeiU8mAxbhD76ketUBxfOPay84Id5vFfUY7Pj124h2Oee7Csk7b6q9brf9_mQO8U_qnABeVm7kOXdhxPQI1XakaNaw" alt="">
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 Trading View
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</figure> 
Projecting the downtrend continues below the $0.25 demand belt; the trend-based Fibonacci retracement will help find the upcoming support levels. As per the Fibonacci tool, the next key support levels are at $0.22 and $0.20. 
Currently, the ADA price trades at $0.256 with a 1.18% intraday growth as it bounces from the $0.25 demand block.&nbsp; 
Also Read: <a href="https://coinpedia.org/altcoin/cardano-at-critical-crossroads-deeper-correction-or-recovery-what-next-for-ada-price/">Is the Cardano Price Heading for a “Depression” Phase? What Investors Need to Know</a> 
<h2 id="will-cardano-find-a-bounceback-in-2023" data-name="will-cardano-find-a-bounceback-in-2023" class="wp-block-heading">Will Cardano Find A Bounceback in 2023?</h2> 
With the overall market conditions gloomy, the chances of a bullish comeback in <a href="https://coinpedia.org/price-analysis/cardano-price-analysis-heres-how-buyers-are-teasing-a-sharp-move-in-ada-price/" target="_blank" rel="noreferrer noopener">Cardano</a> seem minimal. However, the <a href="https://coinpedia.org/news/is-cardano-under-secs-radar-ada-delisting-rumour-looms-charles-hoskinson-clears-the-air/" target="_blank" rel="noreferrer noopener">SEC</a> deciding on the Bitcoin ETF approval this Friday can be the bullish catalyst necessary for ADA prices to break the resistance trendline.&nbsp; 
Moreover, the RSI indicator displays a strong bullish divergence in the daily chart, signaling a bullish revival soon.&nbsp; 
If things go well, the trendline breakout rally could push the ADA price up to $0.35 at least, maybe even $0.45. But if it falls below $0.25, that could put a lot of <a href="https://coinpedia.org/price-analysis/cardano-price-analysis-experts-predicts-ada-price-breakout-fueled-by-whale-accumulation/" target="_blank" rel="noreferrer noopener">selling pressure on Cardano</a>, and it could drop to $0.229.

Cardano Price Analysis: Guarding The $0.25 Gates, Will Buyers Avoid ADA Price Crashing Under?

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